New York, United States, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The Global Crash Barrier Systems Market Size is expected to reach USD 12.5 Billion by 2032, at a CAGR of 4.1% during the forecast period 2022 to 2032.
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Crash Barrier Systems are high-quality safety barriers that are erected throughout a highway/roadway or in the center of a two-lane highway to help reduce fatal crashes. These barrier systems are often built in conjunction with the side of the pavement or between two parts of a driveway to avoid crashes or, in some cases, to divert traffic. Crash barriers are designed to keep vehicles on the road. It is also used to prevent them from colliding with stationary things like trees and buildings. Furthermore, an increasing urban population contributes to higher automotive expenditures, resulting in greater financial independence. As the number of privately owned vehicles on the road increases, so does the possibility of accidents and the necessity for crash barriers to prevent them. Moreover, the rising frequency of traffic accidents has increased public awareness of the importance of road safety, supporting the growth of the crash barrier system market.
Browse key industry insights spread across 200 pages with 140 market data tables and figures & charts from the report on "Global Crash Barrier Systems Market Size, Share, and COVID-19 Impact Analysis, By Type (Portable, Fixed), Technology (Rigid, Semi-Rigid, Flexible), By Application (Roadside, Median, Work Zone, Bridge, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The fixed segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global crash barrier systems market is segmented into portable and fixed. Among these, the fixed segment is dominating the market with the largest revenue share of 63.7% over the forecast period. Fixed barrier systems are either permanently installed or need heavy gear to move or disassemble. When compared to transportable crash barriers, these crash barriers provide more protection to vehicles and passengers. Fixed barriers absorb the most energy during collisions and keep the vehicle from swerving. These barriers are simply mended after a severe collision. Fixed barriers offer lower construction and maintenance costs than moveable barrier systems over time, minimizing the life cycle cost.
The flexible barrier segment is witnessing significant CAGR growth over the forecast period.
On the basis of technology, the global crash barrier systems market is segmented into rigid, semi-rigid, and flexible. Among these, the flexible barrier segment is witnessing significant CAGR growth over the forecast period. With accident reductions of up to 90%, flexible barriers are recognized as one of the most efficient accident prevention measures. Flexible barriers perform better because they regulate energy exchange more effectively. These barriers are comprised of three or four steel ropes that are held together by flimsy poles. Flexible barriers require little upkeep. After an accident, just the damaged posts must be replaced.
The roadside barriers segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of application, the global crash barrier systems market is segmented into roadside, median, work zone, bridge, and others. Among these, the roadside barriers segment is dominating the market with the largest revenue share of 57.2% over the forecast period. Roadside barriers are solid barriers made of steel, concrete or a combination of the two. They are attached to road structures such as bridges, retaining walls, and building amenities. The major goal is to keep errant vehicles from colliding with the supporting structures and to reduce the severity of the impact.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 42.8% market share over the forecast period. The expanding population of countries like India and China has resulted in an increase in the creation of roads, bridges, and highways that require high levels of vehicle safety and security. This region has the highest growth rate due to the robust economic expansion. In contrast, Europe is predicted to grow the fastest during the forecast period. The region's market is developing as a result of the region's firms' desire to embark on capital-intensive projects, as well as its abundance of technical expertise.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market. Major vendors in the Global Crash Barrier Systems Market include Nucor Corporation, NV Bekaert S.A., Trinity Industries Inc., Tata Steel, Valmont Industries, Inc., Arbus Limited, Avon Barrier Corporation Ltd., Barrier1 Systems, LLC, Hill Smith Holdings PLC, Lindsay Corporation, Transpo Industries, Inc., RoadSafe Traffic Systems, Inc., Pinax Steel Industries, and several others.
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Recent Developments
- On February 2023, Lindsay Corporation has introduced the TAU-XR, an easy-to-install and cost-effective-to-repair crash cushion that allows workers to reset the crash cushion following an accident with no downtime. The TAU-XR is a non-gating, redirecting crash cushion that protects drivers from roadside barriers, bridge piers, and other hazards up to 30 inches wide. The TAU-XR features a one-of-a-kind double-rail system that enables for simple, quick, and cost-effective repairs.
- On April 2023, Highway Supply, LLC has been acquired by RoadSafe Traffic Systems, Inc. Highway Supply, based in Albuquerque, New Mexico, is the region's main provider of traffic control goods and services. Its pavement marking and water blasting branch also provides services to significant heavy highway public works projects across the state.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Crash Barrier Systems Market based on the below-mentioned segments:
Crash Barrier Systems Market, Type Analysis
- Portable
- Fixed
Crash Barrier Systems Market, Technology Analysis
- Rigid
- Semi-Rigid
- Flexible
Crash Barrier Systems Market, Application Analysis
- Roadside
- Median
- Work Zone
- Bridge
- Others
Crash Barrier Systems Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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